US economy resilient but inflation too high: Fed's Williams

US economic growth has remained remarkably resilient in the face of successive shocks but inflation is too high and it is essential to bring it back to 2 percent, New York Federal Reserve President John Williams said on Friday.

“Inflation is absolutely too high. It’s been too high for too long,” Williams told a European Central Bank conference in Frankfurt. “It’s absolutely essential that we bring inflation back to our 2 percent target in a timely manner and a sustained basis.”

Reuters